An auditor has accounted for pre-numbered sequence of inventory tags and is now going to trace information on a representative number of tags to the inventory summary sheets prepared by the client as a result of the inventory count. What objective is the auditor trying to achieve by performing this test?

a. Verify that the client has instituted proper inventory counting procedures

b. Verify that inventory with these tag numbers was counted

c. Verify that the inventory is being valued using the appropriate inventory method (e.g. FIFO or LIFO)

d. Ascertain that the inventory is presented at lower of cost or market on the balance sheet.